Volkswagen CEO Likely to Get $32 Million Pension After Leaving

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Martin Winterkorn, engulfed by a diesel-emissions scandal at Volkswagen AG, amassed a $32 million pension before stepping down Wednesday, and may reap millions more in severance depending on how the supervisory board classifies his exit.

After Winterkorn disclosed Wednesday that he had asked the board to terminate his role, company spokesman Claus-Peter Tiemann declined to comment on how much money the departing CEO stands to get. Volkswagen’s most recent annual report outlines how Winterkorn, its leader since 2007, could theoretically collect two significant payouts.

By Anders Melin
Full story on Bloomberg.
Photo: Handelsblatt.com/APA/EPA/Ralf Hirschberger
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